CEO of Rapid Recovery Solutions and collection services expert John Monderine discusses need for nationwide overhaul of college funding practices.

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Rapid Recovery Solution, Inc. discusses the need for a nationwide overhaul of college funding standards.

According to a November 22 article from The Wall Street Journal titled “Why Are Colleges Seeing Anemic Tuition Growth?,” nearly half of the country’s educational institutions are seeing their revenues decline. After a prolonged era of consistent enrollment gains, enrollment at many schools has hit a wall.

Economists are crediting the Great Recession for this drop, as the job market of various professional industries has discouraged young Americans from continuing their education beyond high school. They are instead turning to easily obtainable part-time jobs with increased consistency. A recent report from Moody’s Investors Service cited in The Journal’s article determined, “the median growth in net tuition per student has slowed to approximately 3 percent, half of the pace experienced before the recession.”

John Monderine, CEO of Rapid Recovery Solutions, provides his take on the issue. “While these facts may be alarming to many Americans, a downturn in college enrollment and revenue comes as little surprise to the collection services industry. For years our agency has witnessed the crippling effects of increasing tuition fees and exorbitant college loans on young adults.”

Monderine continues, “The American higher education system remains one of this country’s true crown jewels. The industry must work alongside lenders and employers to ensure prospective students that the expense is worth the rewards. However, until student loan debt is in some way curbed, enrollment may continue to tumble over time.”

Founded in 2006, Rapid Recovery Solution, Inc. is headquartered at the highest point of beautiful Long Island. Rapid Recovery Collection Agency is committed to recovering your funds. We believe that every debtor has the ability to pay if motivated correctly. We DO NOT alienate the debtors; we attempt to align with them and offer a number of ways to resolve not only your debt but also all their debts.